Tomorrow.io News
7 articles
growth-positive
Tomorrow.io raises $87 million for weather satellite constellation
Tomorrow.io, a weather data company, raised $87 million in a Series E funding round to support its campaign to gather weather and climate data. The funding round was led by Activate Capital and included participation from RTX Ventures, Seraphim Space, Chemonics, and existing investors. Tomorrow.io recently launched its second satellite, R-2, and plans to share radar data from its satellites in the future. The company has also received contracts from the Defense Department and the U.S. Space Force for weather satellites. Tomorrow.ios previous funding round was completed in 2021 when the company was known as ClimaCell.
Investment
growth-positive
אחרי גיוס של 250 מיליון דולר: TomorrowIO עדיין...
TomorrowIO, formerly known as ClimaCell, is a weather forecasting company that has been in operation for seven years. The company initially focused on using cellular networks to predict weather patterns, but this technology was eventually abandoned due to difficulties in accessing cellular companies. The company then shifted its focus to big data, claiming that its algorithms could provide more accurate forecasts than any competitor or government agency. In 2021, the company rebranded to TomorrowIO and announced a new direction: weather prediction satellites. The company raised $77 million in a Series C funding round and signed a $19.3 million contract with the US Air Force to develop and deploy its weather satellite array.
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growth-positive
Tomorrow.io's Historic Satellite Launch Paves Way for Groundbreaking Advancement in Global Weather Forecasting
The Tomorrow Companies Inc. has announced the successful on-orbit operation of its first satellite, Tomorrow-R1. The satellite, launched on April 14th, is the worlds first commercially built weather-radar satellite. It is part of the Tomorrow.io constellation of active and passive sensors, which aims to achieve breakthroughs in global weather forecasting and climate observation. The satellite is equipped with a Ka-band radar for detecting precipitation and critical ocean parameters. The company plans to deploy more satellites to create a network for weather sensing from space. The launch of Tomorrow-R1 marks a step change in the price-to-performance ratio for atmospheric radars in space. The company has already received contracts from the DOD and is collaborating with NOAA. The satellite data is being integrated into Tomorrow.ios weather intelligence platform.
PartnersInvestment
growth-positive
Weather security platform Tomorrow.io to go public in $1.2 billion SPAC deal
Weather and security platform Tomorrow.io will go public through a merger with special purpose acquisition company Pine Technology Acquisition Corp, in a deal worth nearly $1.2 billion. The merger is expected to close in the first half of 2022 and will bring in up to $420 million in proceeds for Tomorrow.io. The funds will be used to invest in the companys platform, launch radar-equipped satellites, and for strategic mergers and acquisitions. Tomorrow.io provides real-time accurate weather information and actionable recommendations to clients, including JetBlue Airways and Uber Technologies. The company has raised $185 million to date and has secured a $75 million private investment in public equity (PIPE) from various investors. The merger will allow Tomorrow.io to list on Nasdaq under the symbol TMW.
Public TradingInvestment
growth-positive
"We like to call ourselves the Space X of weather-tech"
Tomorrow.io, a weather-tech company, plans to launch its own satellite constellation and become the SpaceX of weather-tech. The company sells a weather-intelligence platform that provides real-time weather forecasts and recommended actions for specific clients. Tomorrow.io aims to rely on its own technology rather than government agencies for weather sensing and processing. The CEO emphasized the importance of innovation and the companys ability to innovate at a faster pace. The article includes an interview with Tomorrow.ios CEO at the Mind the Tech New York 2021 conference.
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growth-positive
Weather platform ClimaCell is now Tomorrow.io and raises $77M
Weather intelligence platform ClimaCell has raised a $77 million Series D funding round led by Stonecourt Capital and Highline Capital, bringing its total funding to about $185 million. The company also announced that it has changed its name to Tomorrow.io. The announcement comes a month after the company announced plans to launch a fleet of small radar-equipped weather satellites to improve its weather monitoring and forecasting capabilities. Despite many of its customers seeing a decline in business during the pandemic, Tomorrow.io managed to diversify its customer base and saw a 200% net revenue retention rate and its annual contract value grew 850% over the past two years.
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growth-positive
Tomorrow.io Accelerates Growth With $23M Series C Funding Led by Pitango Growth and Square Peg Capital
Tomorrow.io, the weather intelligence platform, has raised $23M in a Series C funding round led by Pitango Growth and Square Peg Capital. The funding brings Tomorrow.ios total funding to over $100M. The company offers enterprise-grade technology and SaaS products that help customers save costs and improve operational efficiency by providing automated and predictive weather impact technologies. Tomorrow.io has seen rapid growth and has customers such as Uber, Delta, Ford, and more. The funding will be used to accelerate strategic initiatives. Tomorrow.io was recently ranked as having the number one global weather API for businesses. The company aims to revolutionize the weather industry and capitalize on opportunities in various sectors.
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